Axis Mutual Fund announced the launch of the Axis Nifty Bank Index Fund. The scheme opened for public subscription on May 03, 2024, and will close on May 17, 2024.
The schemes will be suitable for investors who are seeking long-term capital appreciation and want investment in securities covered by Nifty 50 Index and Nifty Bank Index, and gain access to growth of potential market leaders.
The category has offered around 17.25% and 17.68% in one year and year-to-date horizons respectively. Out of 14 schemes that have completed one year in the market, three schemes have offered more than 20%.
Bajaj Finserv Nifty Bank ETF and Bajaj Finserv Nifty 50 ETF will be managed by Sorbh Gupta and Ilesh Savla. The minimum application amount during the NFO period will be Rs 500 and in multiples of Re 1 in both the schemes. The principal invested in these schemes will be at very high risk.